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Commercial Loan Direct
Commercial Loan Direct is a correspondent lender and commercial mortgage banking firm placing loans on income property nationwide. It is a business division of CLD Financial, LLC, and lends on behalf of the banks, insurance companies, credit unions, savings institutions, and private lending platforms it represents.
The process runs in three steps. A borrower submits a quote request and a loan specialist takes the property and the investment strategy; the transaction is matched to the loan programs that fit; the file is then underwritten and closed, and the firm says it underwrites and closes the majority of its transactions itself. Because it works from wholesale rather than retail programs, it says its pricing is often better than the rate a borrower's own bank would quote.
Programs include FHA and HUD multifamily mortgages, agency lending platforms, SBA 7(a) and SBA 504, life insurance company loans, bank and credit union loans, bridge, and construction financing, across apartments, office, retail, industrial, hospitality, medical, self-storage, senior and student housing, manufactured housing, churches, and mixed use. Published parameters include life company loans from $5 million at up to 75% loan-to-value, and FHA multifamily loans from $3 million at up to 80% loan-to-value on 30- to 40-year terms.
The site claims 19 years in business, more than $53 billion of loans processed, and over 350 programs, and lists offices in Atlanta and San Francisco. It is licensed in all 50 states but only for properties zoned commercial. Rate ranges are published by program; the firm's own compensation is not, so ask what CLD is paid on your deal and by whom.
Best for
Borrowers on income property who want one firm to canvass agency, FHA, SBA, life company, bank, and bridge options instead of approaching a single bank. The firm lends only on commercially zoned property.
What they do
- FHA and HUD multifamily loans
- Agency multifamily loans
- SBA 7(a) loans
- SBA 504 loans
- Life insurance company commercial mortgages
- Bank and credit union commercial loans
- Bridge loans
- Commercial construction loans
- Commercial mortgage quotes and loan program matching
Details
| Attribute | Value |
|---|---|
| Ownership | Subsidiary |
| Offices | Atlanta, GA, San Francisco, CA |
| Licenses | Licensed in all 50 states |
| Memberships | Georgia Lenders Quality Circle member, National Mortgage Bankers Association member, BBB A rating |
What stands out
- Says it has 19 years of experience and has processed more than $53 billion in loans.
- Offers more than 350 loan programs and says it is affiliated with over 200 lenders nationwide.
- Works as a correspondent lender: it lends on behalf of the institutions it represents and underwrites and closes most transactions itself.
- Member of the Georgia Lenders Quality Circle and the National Mortgage Bankers Association, with an A rating from the Better Business Bureau.
- Licensed to work in all 50 states, but only with properties that are zoned commercial.
Common questions
- Is Commercial Loan Direct a direct lender?
- It operates as a correspondent lender. That means it can lend on behalf of the companies it represents and has direct access to their pricing, and it underwrites and closes the majority of its transactions itself.
- Why use a correspondent lender instead of a local bank?
- The firm says it is affiliated with over 200 lenders nationwide, including local, regional and national banks plus insurance companies, hedge funds and agency lenders, and that it is quoted wholesale rather than retail pricing. It says borrowers have often seen a pricing difference even against their own bank.
- What qualifies as a commercial real estate loan?
- A commercial real estate loan is one secured by commercial real estate, such as an office building, retail property, or apartments. The firm adds that it is only licensed to work with properties that are zoned commercial.